We use a range of cookies to give you the best possible browsing experience. By continuing to use this website, you agree to our use of cookies.
You can learn more about our cookie policy here, or by following the link at the bottom of any page on our site.

Free Trading Guides
EUR/USD
Bullish
Low
High
of clients are net long.
of clients are net short.
Long Short

Note: Low and High figures are for the trading day.

Data provided by
GBP/USD
Bullish
USD/JPY
Bearish
Low
High
of clients are net long.
of clients are net short.
Long Short

Note: Low and High figures are for the trading day.

Data provided by
Gold
Mixed
Oil - US Crude
Mixed
Bitcoin
Bullish
More View more
Real Time News
  • Gold shifts down to test December 3rd lows $XAUUSD $GLD https://t.co/p4SVib99xC
  • White House Advisor Kudlow says the US appreciates China giving product waivers on AG products -BBG
  • Spot $EURUSD fluctuates +/- 36 pips on average in response to monthly US nonfarm payrolls data, which compares to +/- 4 pips on average otherwise. Get your EUR/USD market update from @RichDvorakFX here: https://t.co/75hjsD9NB9 https://t.co/2lL7I0nVQb
  • Forex Update: As of 15:00, these are your best and worst performers based on the London trading schedule: 🇳🇿NZD: 0.14% 🇯🇵JPY: 0.06% 🇦🇺AUD: -0.09% 🇨🇭CHF: -0.42% 🇪🇺EUR: -0.54% 🇨🇦CAD: -0.69% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/rnKHUSKJZE
  • And, if you pair that strong NFPs beat to the biggest drop in Canadian jobs (-71,200) since January 2009, you get a $USDCAD move like this https://t.co/ijbs7NAkAM
  • Larry Kudlow says there are no plans for the US and China to meet at present, as time before the December 15 tariff hike dwindles $SPX
  • Hey traders! What market topic are you rooting for in the upcoming Trading Global Markets Decoded #podcast episode featuring @DailyFX Sr Currency Strategist, @IlyaSpivak and Analyst, @JMcQueenFX? Vote for your choice of topic below👇!
  • $DXY continues to move higher on upbeat NFP and U.Mich sentiment data from this morning https://t.co/vuT4KfgAyf
  • Indices Update: As of 15:00, these are your best and worst performers based on the London trading schedule: Wall Street: 1.08% France 40: 0.98% US 500: 0.90% Germany 30: 0.58% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/YA0N8DY04i
  • Goldman shares spiking on rumors of a 1MDB settlement for $GS below $2 billion
Price & Time: Minor USD Reprieve Or Something More?

Price & Time: Minor USD Reprieve Or Something More?

2014-09-23 12:30:00
Kristian Kerr, Sr. Currency Strategist
Share:

Talking Points

  • EUR/USD in consolidation mode above key Gann level
  • USD/CAD nearing important downside pivot
  • AUD/USD downtrend stalling?

Get real time volume on your charts for free. Click HERE

Foreign Exchange Price & Time at a Glance:

Price & Time Analysis: EUR/USD

Price & Time: Minor USD Reprieve Or Something More?

Charts Created using Marketscope – Prepared by Kristian Kerr

  • EUR/USD recorded a new low for the year late last week before finding support near the 10th square root realtionship of the year’s high around 1.2820
  • Our near-term trend bias remains lower in the euro while below 1.2990
  • A close below 1.2820 is needed to re-instill downside momentume and expose key support around last year’s low in the 1.2750 area
  • An important turn window is around the end of the week
  • A close over 1.2990 would turn us positive on the euro

EUR/USD Strategy: Like holding reduced long short positions while below 1.2990.

Instrument

Support 2

Support 1

Spot

Resistance 1

Resistance 2

EUR/USD

1.2750

*1.2820

1.2885

1.2920

*1.2990

Price & Time Analysis: USD/CAD

Price & Time: Minor USD Reprieve Or Something More?

Charts Created using Marketscope – Prepared by Kristian Kerr

  • USD/CAD reversed during a key cyclical turn window early last week near 1.1100
  • Our near-term trend bias is lower in Funds while below 1.1100
  • A close below 1.0930 is needed to trigger a more serious decline
  • A minor turn window is eyed over the next couple of days
  • A close over 1.1100 would turn us positive again on USD/CAD

USD/CAD Strategy: Like selling into strength against 1.1000.

Instrument

Support 2

Support 1

Spot

Resistance 1

Resistance 2

USD/CAD

*1.0930

1.0960

1.1000

1.1050

*1.1100

Focus Chart of the Day: AUD/USD

Price & Time: Minor USD Reprieve Or Something More?

A few markets are attempting to reverse around the key Gann Equinox period we highlighted last week. The most notable are JPY, AUD and the S&P 500. All have been in very strong trends so the burden of proof is on USD bears as to whether this something more as opposed to the more likely scenario of just a minor reprieve. In AUD/USD the pair tested our key support zone at .8860/35 and this area should now hold if any sort of decent correction is unfolding. A move through .8950 is needed to confirm at least a temporary low is in place, but traction over .8980 is really required to raise the possibility that a more serious turn is underway. USD/JPY is in a similar situation as the rate has become vulnerable after JPY bulls fell to 3% last week. Interim support is eyed around 108.40, but a move under 107.35 is really needed to turn the outlook more negative and set off a more serious correction. A move through 109.40 would obviously undermine this negative scenario. Lastly in the S&P 500 the key near-term level looks to be last week’s low near 1977/73, but only under 1932 warns that a more serious move lower is afoot.

To receive Kristian’s analysis directly via email, please SIGN UP HERE.

This publication attempts to further explore the concept that mass movements of human psychology, as represented by the financial markets, are subject to the mathematical laws of nature and through the use of various geometric, arithmetic, statistical and cyclical techniques a better understanding of markets and their corresponding movements can be achieved.

--- Written by Kristian Kerr, Senior Currency Strategist for DailyFX.com

To contact Kristian, e-mail instructor@dailyfx.com. Follow me on Twitter @KKerrFX

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.

DISCLOSURES

News & Analysis at your fingertips.